Urban Outfitters Inc. reported earnings improved 13.1 percent in the third quarter as total sales expanded 12.3 percent to $1.53 billion against $1.36 billion a year ago.
Net income reached $116.4 million, or $1.28 a share, in the quarter ended October 31, up from $102.9 million, or $1.10, a year ago.
“We are pleased to report record revenues, profits, and earnings per share for the quarter,” said Richard Hayne, chief executive officer. “Trends observed last quarter have remained consistent with broad-based comparable sales growth and robust results in the Retail, Subscription, and Wholesale segments. These results underscore the strength of our diversified business model, which enables us to continue capturing market share, and drive consistent long-term growth.”
Net sales by Brand and Segment
Total Retail segment net sales increased 9.6 percent year-over-year (y/y)
Comparable Retail segment net sales increased 8.0 percent y/y, said to be driven by high single-digit positive growth in both digital channel sales and retail store sales. Comparable Retail segment net sales increased 12.5 percent y/y at Urban Outfitters, 7.6 percent at Anthropologie and 4.1 percent at Free People.
Subscription segment net sales increased 48.7 percent y/y, primarily driven by a 42.2 percent increase in average active subscribers in the current quarter versus the prior-year third quarter.
Wholesale segment net sales increased 7.6 percent y/y, driven by an 8.4 percent increase in Free People wholesale sales primarily due to an increase in sales to specialty customers.
Image, data and tables courtesy Urban Outfitters, Inc.
